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The person who submits the highest tender or bid will be permitted to buy the property. The Minimum Tender Amount or Minimum Bid Amount is simply the lowest amount that the municipality is allowed to accept. Any tender or bid that is received for less than that amount must be rejected by the municipality.
Some people invest in tax liens as a way of making money. Buying tax liens in Canada is possible too, but it is a complex form of investing. Consolidated Credit Canada is here to guide and help you with your debt repayment.
Every year, municipalities hold an annual auction on the last Monday of September ? this year the auctions will be held on the 25th ? where up for grabs are properties with three years' worth of unpaid taxes. Bids start at the upset price, or the value of the unpaid tax and other fees.
Tax Lien. If your property taxes have not been paid in the last two (2) years, your property may be subject to a tax registration lien. Upon registration of said lien, a $1,450 non-refundable fee will be added to your account.
Can Canadians invest in US tax liens? The answer is an absolute yes. However, to be successful, Canadians buying US property by investing in US tax liens need to know the rules, do their homework, and understand how tax lien investing across international borders works.